The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide
Where is the reporting from the mainstream media about this? Today on CNN there was endless retrospection on the "entertaining" moments of the past election campaign, as well as countless human interest stories of varying absurdity. This is the state of our democracy people, these are the things we need to care about. The Federal Reserve is eating us alive and we're responding like the sheep we have been conditioned to become. Put down the People Magazine, the Xbox controller turn off Faux News, and be vigilant!!
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